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Fortinet

An American multinational corporation that provides network security appliances, headquartered in Sunnyvale, California.

Categories

Media and Communications  

#314

Rank

$63.09B

Marketcap

US United States

Country

Fortinet
Leadership team

Michael Xie (Founder, President and Chief Technology Officer (CTO))

Abhishek Narula (Chief Technology Officer (SOAR Business Unit) Vice President of Engineering)

Industries

Media and Communications

Products/ Services
Fortinet Security Fabric, FortiGate UTM, FortiGate enterprise, FortiGate carrier, FortiSwitch, FortiWeb, FortiSIEM, FortiSandbox, FortiClient, FortiManager, FortiAnalyzer
Number of Employees
1,000 - 20,000
Headquarters
Sunnyvale, California, United States
Established
2000
Company Type
Public Limited Company
Company Registration
SEC CIK number: 0001262039
Net Income
500M - 1B
Revenue
Above - 1B
Traded as
FTNT
Social Media
Overview
Location
Summary

Fortinet is a leading cybersecurity company that provides innovative security solutions to organizations of all sizes. Founded in 2000, the company is headquartered in Sunnyvale, California, and operates globally with offices in over 40 countries. Fortinet's primary mission is to secure the digital future by delivering integrated, high-performance cybersecurity solutions that protect customers against complex threats, while simplifying IT infrastructure and reducing overall costs.

Fortinet offers a broad range of products and services, including network security, cloud security, endpoint security, and more. Its flagship product, the Fortinet Security Fabric, is a comprehensive, integrated security platform that provides advanced threat protection, network segmentation, and management capabilities. The Fortinet Security Fabric integrates a wide range of security solutions, including firewall, VPN, intrusion prevention, web filtering, antivirus, and more, into a single, unified system that is easy to manage and scale.

Fortinet serves customers across a range of industries, including healthcare, financial services, education, and government, as well as small and medium-sized businesses. The company's solutions are trusted by some of the world's largest organizations, including Fortune 500 companies, to protect their critical assets and sensitive data.

Fortinet's commitment to innovation and customer satisfaction has earned the company numerous awards and accolades. In 2020, Fortinet was named a leader in the Gartner Magic Quadrant for Network Firewalls for the 11th time, and the company was also recognized as a leader in the Forrester Wave: Enterprise Firewalls report. Additionally, Fortinet has received recognition for its corporate social responsibility efforts, including its commitment to sustainability and reducing its environmental impact.

History

2000: The company was renamed to ApSecure in December 2000 and later renamed again to Fortinet, based on the phrase "Fortified Networks." Founded in 2000 by Ken Xie, the visionary founder and former president and CEO of NetScreen, Fortinet is led by a strong management team with deep experience in networking and security. Fortinet has operated in Burnaby since the year 2000, contributing to economic development and fostering the growth of the technology sector in Canada. In 2000, Ken Xie and his brother Michael Xie co-founded Appligation Inc.

2002: Fortinet introduced its first product, FortiGate, in 2002, followed by anti-spam and anti-virus software.

2003: Fortinet's first channel program was established in October 2003. In 2003, they launched their first channel program and began distribution in Canada the same year, via Westcon Canada.

2004: Fortinet had offices in Asia, Europe and North America.

2008: The company turned cash positive in 2008 and acquired database security firm IPLocks the same year. Fortinet became profitable in the third quarter of 2008.

2009: Fortinet acquired the intellectual property and other assets of Woven Systems, an ethernet switching company. The company sold 5.8 million shares and raised $52.4 million through its IPO in 2009.

2010: Fortinet had $324 million in annual revenues and held the largest share of the unified threat management market according to IDC.

2013: they launched monthly subscription options for customers with less capital.

2014: Fortinet announced a technical certification program called the Network Security Expert (NSE) program. They expanded to new ventures in 2014 by launching a technical certification named Network Security Expert.

2016: Fortinet acquired IT security, monitoring and analytics software vendor, AccelOps. Also in 2016, Fortinet launched a program called FortiVet to recruit military veterans for cybersecurity jobs.

2017: It was announced that Philip Quade, a former member of the NSA, would become the company's chief information security officer. At the end of 2017, Fortinet reported $416.7 million in revenue, a 15 percent increase from the previous year.

2018: Fortinet acquired Bradford Networks, a maker of access control and IoT security solutions. Furthermore, Fortinet is growing at 20%, being valued at a staggering $13 billion in 2018.

2019: It was announced that Fortinet and founder Ken Xie would participate in the annual World Economic Forum held in Davos, Switzerland. In September 2019, Fortinet settled a whistleblower lawsuit regarding what the company has described as an "isolated incident" of sales of intentionally mislabeled Chinese-made equipment to United States government end users. In late 2019, Fortinet acquired enSilo and CyberSponse.

2020: Fortinet acquired OPAQ Networks.

2021: Fortinet pledged to train one million people in support of President Joe Biden's call to action to address the talent shortage in American cybersecurity.

Mission

According to Fortinet, the company mission is: “to make possible a digital world that organizations can always trust by securing people, devices and data everywhere".

The mission of Fortinet is to provide its customers with the tools and resources they need to protect their networks, devices, and data against a wide range of cyber threats.

At the heart of Fortinet's mission is a commitment to innovation. The company is constantly pushing the boundaries of what is possible in cybersecurity, developing new technologies and approaches to stay ahead of emerging threats. Fortinet's mission is to help its customers stay one step ahead of attackers, providing them with the tools and resources they need to identify and respond to threats in real-time.

Another key aspect of Fortinet's mission is collaboration. The company recognizes that cybersecurity is a complex and rapidly-evolving field, and that no single organization can address all of the challenges alone. Fortinet works closely with its customers, partners, and the broader cybersecurity community to share information, expertise, and best practices. The company believes that by working together, it can achieve a more secure and resilient cyberspace for all.

Vision

As stated in company website, Fortinet vision is: “to deliver broad, truly integrated, high-performance security across the IT infrastructure".

The vision of Fortinet is to provide its customers with the most innovative and comprehensive cybersecurity solutions on the market. The company aims to be a leader in the cybersecurity industry, helping organizations around the world to protect their networks, devices, and data against a wide range of cyber threats.

At the core of Fortinet's vision is a commitment to delivering value to its customers. The company recognizes that cybersecurity is a critical issue for organizations of all sizes, and that the stakes are higher than ever before. 

The company also strives to provide solutions that are flexible and scalable, allowing organizations of all sizes to protect their networks and data effectively.

Key Team

Michael Xie (Founder, President and Chief Technology Officer (CTO))

Ana Pease (Vice President-Talent Management & Operations)

Chenming Hu (Board Member)

Carl Windsor (Field Chief Technology Officer)

Christopher B. Paisley (Board Member)

Charlie Chapman (Chief Executive Officer)

Jean X. Hu (Board Member)

Chenming Hu (Board Member)

John Lunsford Gregory Whittle (Secretary, Executive VP & General Counsel)

Chris Perna (Vice President of Staffing & Recruitment, Vice President)

Judith Sim (Board Member)

Christopher B. Paisley (Board Member)

Kelly Ducourty (Board Member)

Claudio Salmin (Consulting Systems Engineer)

Kenneth A. Goldman (Board Member)

Ken Xie (CEO)

Ming Hsieh (Board Member)

Michael Xie (Founder, President and Chief Technology Officer (CTO))

Ken Xie (CEO)

Recognition and Awards
Gartner Magic Quadrant: Fortinet has been named a Leader in the Gartner Magic Quadrant for Network Firewalls for multiple years. NSS Labs: Fortinet has received multiple Recommended ratings from NSS Labs for its network security products. CRN: Fortinet has been named a CRN Tech Innovator Award winner for multiple years in categories including Network Security, Endpoint Security, and Cloud Security. SC Magazine: Fortinet has won multiple SC Awards for categories including Best Network Security, Best UTM Security Solution, and Best Enterprise Firewall. Cyber Defense Magazine: Fortinet has won multiple Cyber Defense Magazine InfoSec Awards, including Company of the Year, Editor's Choice, and Best Product in Network Security. Forbes Global 2000: Fortinet has been named to the Forbes Global 2000 list of the world's largest public companies for multiple years. Frost & Sullivan: Fortinet has won multiple Frost & Sullivan Best Practices Awards, including Network Security Company of the Year, Endpoint Security Company of the Year, and Best Enterprise Firewall.
Products and Services

FortiGate: A next-generation firewall that provides advanced threat protection, visibility, and control over network traffic.

FortiSandbox: A sandbox environment that analyzes unknown files and detects advanced threats.

FortiMail: An email security platform that provides protection against email-based threats, including spam, phishing, and malware.

FortiWeb: A web application firewall that protects web-based applications against attacks, including SQL injection and cross-site scripting (XSS).

FortiClient: A unified endpoint security solution that provides advanced threat protection, including anti-malware, web filtering, and application firewall capabilities.

FortiEDR: An endpoint detection and response (EDR) solution that provides real-time detection, investigation, and response to advanced threats.

FortiAnalyzer: A centralized logging and reporting solution that provides visibility into network activity and security events.

FortiManager: A centralized management platform that enables organizations to manage multiple Fortinet devices from a single console.

In addition to these products, Fortinet also offers a range of services, including:

Professional services: Fortinet provides a range of professional services, including consulting, implementation, and training.

Support services: Fortinet offers technical support and maintenance services to ensure customers get the most out of their Fortinet products.

Threat intelligence services: Fortinet provides threat intelligence services, including real-time threat intelligence feeds and customized threat reports.

References
Fortinet
Leadership team

Michael Xie (Founder, President and Chief Technology Officer (CTO))

Abhishek Narula (Chief Technology Officer (SOAR Business Unit) Vice President of Engineering)

Industries

Media and Communications

Products/ Services
Fortinet Security Fabric, FortiGate UTM, FortiGate enterprise, FortiGate carrier, FortiSwitch, FortiWeb, FortiSIEM, FortiSandbox, FortiClient, FortiManager, FortiAnalyzer
Number of Employees
1,000 - 20,000
Headquarters
Sunnyvale, California, United States
Established
2000
Company Type
Public Limited Company
Company Registration
SEC CIK number: 0001262039
Net Income
500M - 1B
Revenue
Above - 1B
Traded as
FTNT
Social Media